Hilli Episeyo is the first in a series of FLNG vessels under its contract with Golar LNG, which includes conversion contract values for Golar Gandria and Golar Gimi at US$684 million ($944.20) and US$705 million respectively.
In a Tuesday report, lead analyst Low Pei Han opines that the move shows how Keppel Corp is able to go beyond the role of a traditional yard by bringing in key strategic players, financial investors and participate in the vessel design early on, amongst other factors.
The analyst also believes Keppel Corp has given itself a head start in a “complex solution” versus its competitors such as China, which, according to Reuters, has lent or committed almost US$4 billion to three FLNG schemes off the African coast.
“According to management, [Keppel Corp] is also able to offer solutions for the seamless delivery of LNG from end to end, from upstream (FPSO, FLNG), to midstream (FSRU, small scale LNG carriers), and finally downstream (LNG bunker vessel, land-based and floating power plants, dual-fuel vessels). As such, [the group] sees itself as an industry enabler for a yet-to-mature sector, not just a pure product/service provider,” says Low.
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As at 10.22am, shares of Keppel Corp are trading flat at $6.34.
